Polen Capital Announces Closing of Credit Facility for T BAILEY

Boca Raton, FL – January 13, 2025 - Polen Capital (“Polen”) is pleased to announce the closing of a $30 million senior secured credit facility for T BAILEY, INC., a leading construction services platform based out of Anacortes, Washington.  The facility was used to help finance Saothair Capital’s acquisition of T BAILEY.  

T BAILEY, INC., which has been in operation since 1991, has established a leading market share as a diversified general contractor with design, construction, and fabrication expertise for above-ground fuel and water tanks and related infrastructure. The facility consists of both a funded Senior Secured Term Loan and a Delayed Draw Term Loan to help fund future growth needs of the business. Polen Capital secured this opportunity as a result of its longstanding relationships with advisors and its expertise in the sector, as well as its ability to move quickly to meet the needs of the transaction.  

About Polen Capital
Polen Capital is a global investment firm with extensive credit capabilities provided by its wholly-owned subsidiary, Polen Capital Credit. Since 2011, funds and accounts managed by Polen Capital have provided over $6.6 billion in direct transactions to public and private companies, investing across the capital structure, including senior loans, subordinated debt, and equity. Polen Capital targets financings that range from $10 million to $100 million to public and privately-owned companies across a variety of sectors. For more information, visit www.polencapital.com or follow us on LinkedIn.

About T BAILEY
T BAILEY is a leading vertically integrated provider of above-ground industrial tanks, casings, marine pontoons, penstocks, pressure vessels, and other large custom steel solutions. Founded in 1991 by CEO Gene Tanaka, the company has become a leader in the Northwest, recognized for its commitment to safety, quality control, and exceptional project management. T BAILEY has successfully completed numerous, large-scale projects throughout the Pacific Northwest, Alaska and Hawaii. Headquartered in Anacortes, Washington, the company operates from a state-of-the-art 158,000-square-foot fabrication facility strategically located to directly ship and receive oversized loads via barge, rail, or truck.